325_Supplement7

325_Supplement7 - Department of Economics University of...

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Intermediate Macroeconomic Analysis Spring 2011 1 Department of Economics University of Maryland Economics 325 Intermediate Macroeconomic Analysis Supplement 7 Professor Sanjay Chugh Spring 2011 The following WSJ blog item from February 7, 2011 describes data released by the Federal Reserve earlier that day showing that aggregate consumer debt outstanding (an accumulation, or stock, measure) rose at the end of 2010 for the first time in over two years. Note that consumers’ debt (of which the major components are credit card debt, car loans debt, and educational debt) is only one component of consumers’ net assets, the other component being consumers’ assets, which are not tracked by this Federal Reserve study.
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Intermediate Macroeconomic Analysis Spring 2011 2 February 7, 2011, 3:09 PM ET Credit-Card Debt Up for First Time Since 2008 Americans’ credit-card debt rose for the first time since 2008, a possible sign they are growing more confident about the economy and opening their wallets wider. The surprising rise in December revolving credit as tracked by the Federal Reserve
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This document was uploaded on 11/01/2011 for the course ECON 325 at Maryland.

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325_Supplement7 - Department of Economics University of...

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